Fiat is hoping to buy GM Europe. If the deal goes though, the combined company will have an annual sales of about 6 to 7 million cars and a $100 billion in revenue per year.
Fiat SpA F strengthen its position as a consolidator in the automotive world with a comprehensive plan for the use of General Motors Corp. GM-N s extensive European operations to create an industry heavyweight.
Backed by the Fiat into an agreement to acquire 20 percent of the capital of Chrysler LLC, the manufacturer said yesterday that Italian is in talks to buy GM Europe, and seeks to combine this operation with Chrysler and Fiat Auto's new game.
In a brief statement issued after a meeting of the board of Fiat, yesterday, the automaker said the agreement, if completed, would create a giant in the car with about 80 million € ($ 126 billion) in annual revenues. The group could be shot as an independent company, the board said.
"The group will assess the different business structures, including the potential impact of Fiat Group Automobiles and register a new business that combines these activities with the activities of General Motors Europe, told the board.
